Form 4: Upwork GM, Marketplace Dave Bottoms Sells 1,620 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Dave Bottoms, GM, Marketplace at Upwork Inc., sold 1,620 shares of common stock on May 20, 2025, at a weighted average price of $16.4095 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan.
Summary
- On May 20, 2025, Dave Bottoms, the GM, Marketplace of Upwork Inc., sold 1,620 shares of the company's common stock.
- The sale was executed at a weighted average price of $16.4095 per share.
- The prices for individual transactions ranged from $16.30 to $16.52.
- The transaction was conducted under a Rule 10b5-1 trading plan, which was adopted on June 7, 2023, and most recently modified on May 28, 2024.
- Following the transaction, Bottoms directly owns 0 shares of Upwork.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports a routine stock sale under a pre-arranged plan. It doesn't necessarily indicate a positive or negative outlook for the company.
Positives
- The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which suggests it was planned and not based on immediate market conditions.
Industry Context
Sales by company insiders are a normal part of corporate activity. It is important to consider the context of the sale, such as whether it was pre-planned under a 10b5-1 plan, the size of the sale relative to the insider's holdings, and whether other insiders are also selling shares.
Comparison to Industry Standards
- It is difficult to compare this transaction to industry standards without knowing the specifics of Dave Bottoms' compensation package and overall holdings in Upwork.
- However, sales under 10b5-1 plans are common among executives at publicly traded companies, including companies like Fiverr and Guru, which operate in the same industry as Upwork.
Stakeholder Impact
- The sale of shares by a company executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2023-06-07 | Date the Rule 10b5-1 plan was adopted. |
| 2024-04-05 | Date of Power of Attorney. |
| 2024-05-28 | Date the Rule 10b5-1 plan was most recently modified. |
| 2025-05-20 | Date of the stock sale transaction. |
| 2025-05-22 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Upwork, UPWK, Dave Bottoms, Rule 10b5-1, Stock Sale, Insider Trading
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